ARRIS INTL INC SHS G0551A103 377 12325 SH SOLE 12325 0 0 BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 60737 1583747 SH SOLE 1583747 0 0 BROOKFIELD PPTY PARTNERS L P UNIT LTD PARTN G16249107 371 23000 SH SOLE 23000 0 0 COMCAST CORP NEW CL A 20030N101 78679 2310682 SH SOLE 2310682 0 0 CORE LABORATORIES N V COM N22717107 16233 272096 SH SOLE 272096 0 0 ECOLAB INC COM 278865100 115240 782083 SH SOLE 782083 0 0 EXPEDITORS INTL WASH INC COM 302130109 111003 1630237 SH SOLE 1630237 0 0 FASTENAL CO COM 311900104 105118 2010288 SH SOLE 2010288 0 0 NIKE INC CL B 654106103 65926 889211 SH SOLE 889211 0 0 OUTFRONT MEDIA INC COM 69007J106 227 12500 SH SOLE 12500 0 0 PAYCHEX INC COM 704326107 121258 1861209 SH SOLE 1861209 0 0 PROGRESSIVE CORP OHIO COM 743315103 160335 2657625 SH SOLE 2657625 0 0 PROSHARES TR SHRT 20+YR TRE 74347X849 1209 54000 SH SOLE 54000 0 0 REGENERON PHARMACEUTICALS COM 75886F107 52447 140420 SH SOLE 140420 0 0 ROPER TECHNOLOGIES INC COM 776696106 14127 53007 SH SOLE 53007 0 0 SCHLUMBERGER LTD COM 806857108 1696 47000 SH SOLE 47000 0 0 TESARO INC COM 881569107 631 8500 SH SOLE 8500 0 0 U S G CORP COM NEW 903293405 1324 31030 SH SOLE 31030 0 0 UNION PAC CORP COM 907818108 77228 558690 SH SOLE 558690 0 0 US BANCORP DEL COM NEW 902973304 441 9649 SH SOLE 9649 0 0 WELLS FARGO CO NEW COM 949746101 83579 1813783 SH SOLE 1813783 0 0